Fidelco welcomes new convenience store in downtown Newark

Marc E. Berson, chairman of Fidelco Group (left of sign), recently joined store owner Jagat Parikh to open a new Krauszer’s convenience store at 494 Broad St. in Newark. — Courtesy: Fidelco Group

By Joshua Burd

A well-known office complex in downtown Newark has a new addition for its tenants and other nearby users — a new Krauszer’s convenience store on its ground floor.

The recently renovated property, 494 Broad St., welcomed the new store last week as an additional amenity to the downtown. It will benefit from the mix of companies at the 400,000-square-foot complex, including Genova Burns, Cablevision and others, along with those that occupy surrounding buildings such as Audible and Rutgers Business School.

It is the fifth Krauzer’s in the city and the second within a building owned by Fidelco Realty Group.

“The City of Newark is so pleased to welcome this Krauszer’s location to our downtown, as we continue to move forward on the redevelopment of the Washington Park and Broad Street Station community,” Newark Mayor Ras Baraka said in a prepared statement. “We thank the Fidelco Realty Group for being an ongoing partner in the transformation of this section of the city.”

City officials last week joined Fidelco Chairman Marc E. Berson and Jagat Parikh, owner and manager of the new convenience store, to mark its grand opening. The property is just a few blocks from NJ Transit’s Broad Street station.

“494 Broad Street is an integral part of the ongoing growth and vitality of the Washington Park business district, as well as the nearby Broad Street Station area,” Berson said. This Krauszer’s location is another part of the ongoing commitment to not just improve the area, but also to serve the needs of the people that live, work and learn in this bustling part of Newark.”

Krauszer’s will sell fresh, grab-and-go style sandwiches and salads, cold beverages and snacks, according to a news release. The North Brunswick-based, privately held company has more than 300 locations in the Garden State and Connecticut.

“As Newark continues to grow in its role as a regional hub for business in coming years, it is vital that the community has easy and convenient access to retail and a variety of food options,” Parikh said. “The strategic location of this store helps us meet the business and education community’s demand for quick access to quality food, beverages and snacks for people on the go.”

Krauszer’s also operates a store on the ground level of the Fidelco-owned RockPlaza Lofts on Market Street in downtown Newark.

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Joshua Burd, an award-winning reporter and editor, has been covering New Jersey commercial real estate for five years. Many industry leaders view him as the go-to real estate reporter in the state, a role he is eager to continue as the editor of Real Estate NJ. He is a lifelong New Jersey resident who has spent a decade covering the great Garden State.

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